Deloitte Access Economics:

  • Mining construction boom is expected to peak in late 2013
  • Government spending cuts are making it harder to find a new driver of economic growth
  • Interest rate cuts will help retail spending & housing construction, but that won’t be enough of itself

Positives

  • China rebound
  • US growth
  • and the ECB “doing the best that it can.”
  • Inflation is ‘‘less than scary’’ at present
  • The carbon tax effect on consumer prices had been smaller than expected.

From the morning press: Mining construction to peak in 2013: Deloitte